Morocco denies disagreement over purchase by Vivendi of Maroc Telecom capital share
Morocco-France, Business, 6/5/2004

Morocco's finance and privatization minister, Fathallah Oualalou, denied Wednesday, an alleged disagreement between the Moroccan government and French "Vivendi" group over the latter's plan to buy 16% of Maroc-Telecom capital.

The official, who was speaking at the question-time session of the House of representatives (lower chamber of parliament), explained that the French group, which had already bought 35% of the telephone and internet company when it was privatised in 2001, is maintaining its plans to buy another 16% of Maroc telecom, but has not made any offers to date.

After the 2001 privatization of Maroc-telecom, he said, the government and the French group agreed that the group would hold the majority regarding management while the government will have the majority in the control committee.

This kind of consensus is customary between parties with a strategic partnership, he told representatives.

The official went on that Vivendi has become a "strategic partner" for Morocco after privatisation, stressing that this cession has enabled Maroc-telecom to post sales of 13.5 billion DH in 2001 and 15.2 billion DH in 2003.

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